What is the Bretton Woods economic order? What were the main forces that served as an impetus for the U. S. to construct the Bretton Woods order? What are the main organizations that emerged from Bretton Woods?

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Social Studies

Leonardo Cantrell

4 December, 15:21

What is the Bretton Woods economic order? What were the main forces that served as an impetus for the U. S. to construct the Bretton Woods order? What are the main organizations that emerged from Bretton Woods?

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Ralph Cobb · Answer 1

Bretton Woods economic order emerged after World War II in an attempt to establish rules for financial and commercial relations in the western world. The US main interest, as the hegemony, was to set the rules of the new financial and economic world order by promoting a liberal economic system, by which, according to the US, peace would be guaranteed, enhancing economic growth and promoting full employment and well-being.

The main institutions created at Bretton Woods were the International Monatary Fund, the International Bank for Reconstruction and Development and the World Bank Group.

Explanation:

In July 1944, delegates of 44 countries gathered at Bretton Woods, New Hampshire to agree on a new economic and financial design, under the direction of the US, creating monetary and development institutions that still prevail in our days.